Envest has signed a non-binding term sheet to sell the authorised representative networks of Resilium Insurance Broking and PSC Connect to Steadfast Group, with the businesses earmarked for integration into Ausure. The deal would make Ausure one of Australia’s largest authorised representative networks.
The transaction, announced in a media release, is being positioned by Envest as part of a broader strategic refocus and coincides with a reorganisation of its broking pillar. A second release from the firm announced the promotion of Ben Goodall to CEO of Envest Broking and set out a simplified model centred on equity-owned broking operations, owner-driver businesses and selected partnership structures.
“Ausure is thrilled to continue supporting authorised representatives from Resilium and PSC," said Ausure CEO Scott McCarthy (pictured left).
Envest said Ausure and Envest would work closely to transition about 150 Resilium and PSC ARs. Several Resilium and PSC staff are also expected to move to Ausure as part of the process, with continuity of service and support a central theme of the proposed arrangement.
Envest CEO Greg Mullins (pictured right) framed the deal as part of a deliberate strategic reset.
“A transition of the Resilium and PSC AR network into Ausure would help ensure ARs continue to be well supported, while enabling Envest to focus on driving growth across our equity owned broking network," said Mullins.
Envest said AR businesses in which it holds equity positions or options, specifically Resilium Partners and PSC Reliance, would be excluded from the transaction, drawing a firm line between network operations it is prepared to divest and partnership-style businesses it still sees as part of its long-term model.
The company also made clear that key executives will remain involved in supporting those retained businesses. Current Envest Networks chief broking officer Ben Hastie and CEO Craig Robson are set to continue supporting partner businesses, with Robson also moving into the new role of investment director and head of placement for Envest.
Envest said the proposed sale remains subject to final transaction documentation as well as relevant board and shareholder approvals. A completed transaction would deepen Steadfast’s reach through Ausure and hand Envest a cleaner runway to pursue growth across its equity-owned broking operations.
Envest's reorganisation of its broking pillar and installing Goodall as CEO of Envest Broking will see him lead what it described as a multi-dimensional broking business with more than $2.3 billion in gross written premium.
Goodall said the ambition is to build a stronger and more future-ready broking platform, using scale, operational simplicity and digital enablement to accelerate growth and improve client outcomes. He also pointed to the advantages of an equity-owned broker network in simplifying how the platform is built and integrated across the broking pillar.
Aviso Specialty is prominent in Envest’s broking overhaul. Last month the firm pulled off a major executive recruitment coup announcing the appointment of two former Pacific region CEOs from major international brokers to its senior leadership team. Josh Roach, fomerly with Marsh was appointed CEO, while Paul Marsden, former Lockton Pacific CEO, became executive director of broking.
Mullins described the reorganisation as creating a simplified business model with genuine back-office synergy while keeping day-to-day client focus with owner operators and branch managers.
The restructure also has a technology edge. Goodall said Envest has already built and deployed its Marketplace, with API connections due to go live next month and is working on an integrated broker management system with AI foundations designed to remove double keying and streamline broker processing.
If the transaction proceeds, it will mark one of the more consequential broker network shifts in recent years and underline Envest’s intention to double down on a more concentrated, equity-led broking strategy.
